What is the business definition for profit loss statement?

What is the business definition for profit loss statement?
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The business definition of the profit loss statement is a financial statement that explains your costs, expenses and revenues in a specific time period.
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A man sold a cycle at a loss of 15%. Had he sold it for Rs.241.87 more he would have gained 24%. For what value should he sell it in order to earn a profit of 30%? a) Rs. 782 b) Rs. 792 c) Rs. 796 d) Rs. 800 e) Rs. 806

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